Form 4: Director Stock Option Grant for Passage BIO

Maxine Gowen, a Director at Passage BIO, Inc., was granted a stock option for 10,539 shares with an exercise price of $5.08.

Summary

• Maxine Gowen, a Director of Passage BIO, Inc., received a stock option grant on May 19, 2026.
• The option is for 10,539 shares of common stock.
• The exercise price for these options is $5.08 per share.
• The stock option vests in full on the earlier of the one-year anniversary of the grant date or the date of the issuer's 2027 Annual Meeting of stockholders, provided Ms. Gowen remains in continuous service.
• The expiration date for the option is May 19, 2036.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard stock option grant to a director, which is a routine event for executive compensation and does not inherently signal positive or negative company performance.

Positives

• Grant of stock options to a director can align management's interests with shareholders, potentially incentivizing performance.
• The option grant provides a long-term incentive with an expiration date of 2036.

Negatives

• The filing does not contain information that can be construed as negative.

Risks

• The vesting of the stock option is contingent on the reporting person's continuous service to the issuer, meaning departure before vesting would result in forfeiture.
• The value of the stock option is subject to the future performance of Passage BIO, Inc.'s stock price, which carries inherent market risk.

Future Outlook

The future outlook for the stock option is dependent on the company's performance and the reporting person's continued employment. The option is exercisable until May 19, 2036.

Industry Context

StockSavvy.ai notes that the grant of stock options to directors is a common practice in the biotechnology sector to attract and retain key talent and align their financial interests with long-term company success.

Stakeholder Impact

• Shareholders: The alignment of director incentives with company performance may positively impact long-term shareholder value.
• Employees: The continued service requirement for vesting may contribute to employee retention.
• Management: The stock option provides a financial incentive for the director.

Next Steps

• Maxine Gowen must maintain continuous service to Passage BIO, Inc. until the vesting date.
• The stock option can be exercised on or after the vesting date, up to the expiration date of May 19, 2036.

Key Dates

Keywords

stock option, director grant, Passage BIO, PASG, SEC Form 4, beneficial ownership, executive compensation, vesting schedule